Bank stocks support European stock exchanges

LONDON (Archyde.com) – European stock indexes rose on Monday, boosted by bank and insurance stocks, which are strongly affected by interest rate movements, as government bond yields continued to rise, while the atmosphere also improved with hopes of a peace deal to end the Ukraine crisis.
The pan-European Stoxx 600 index rose 0.7 percent, close to its pre-war level recorded last week. The index is now at a level less than eight percent from its highest level ever recorded in early January.
The European banking index jumped 2.3 percent following Wall Street gains on Friday.
European and US bond yields rose once more on Monday.
On the other hand, crude oil prices fell by more than five dollars a barrel on Monday following Shanghai, the Asian financial hub, began a two-stage shutdown to contain the spread of Covid-19.